Zydus announces plan to acquire US manufacturing units of Agenus Inc
Agenus Inc. is a clinical-stage immuno-oncology company developing immune therapies, which effectively combat cancer. Zydus, in a statement, said it is set to acquire two biologics manufacturing facilities, located in Emeryville and Berkeley, California, for an upfront consideration of USD 75 million and contingent payment of USD 50 million to be paid over three years, 'subject to achievement of certain revenue milestones'.
With this acquisition, Zydus claims it will become a one-stop solution provider across the entire development spectrum of biologics, right from preclinical to toxicology studies, clinical development and now manufacturing.
Zydus's CDMO business will operate as an independent entity and will house the acquired manufacturing capabilities, according to the statement. Further, Zydus will also become an exclusive contract manufacturer for Agenus and will provide manufacturing services for clinical and commercial supply of two identified Phase-3 ready immuno-oncology products, Botensilimab (BOT) and Balstilimab (BAL). In addition, Zydus will have the first right of negotiation to manufacture any of the future pipeline products developed by Agenus, the statement further read.
Dr Sharvil Patel, Managing Director (MD) of Zydus Lifesciences, said, 'The acquisition will give Zydus a strategic foothold in the US for biologics manufacturing in the global hub for biotech innovation, California. It will enhance our ability to partner with innovation-centric entities, advancing new products and prioritising patient-centric solutions. This move strengthens our long-term biologics vision and positions us to better serve the evolving needs of the global biopharmaceutical industry.'
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